Optimism has released its Q1 2024 report highlighting several key metrics. The number of daily active addresses reached 89,000, showing a quarter-over-quarter growth of 23%. Daily transaction volume increased to 470,000, a 39% rise compared to the previous quarter. Although these figures are slightly below the historical highs recorded in Q3 2023, they indicate substantial growth and activity on the network.The market cap of stablecoins on the Optimism mainnet reached $809 million, up 32% quarter-over-quarter. USDT, in particular, saw a significant increase, with its market cap on the Optimism mainnet soaring to $512 million, representing a 64% quarter-over-quarter growth and accounting for 63% of the total stablecoin market cap on the network.One of the most impactful developments in this quarter was the implementation of EIP-4844, which drastically reduced L1 submission costs by 99%. This reduction brought the average daily costs down from $420,000 in previous weeks to just $830. As a result, the Optimism mainnet's on-chain profit for Q1 2024 was $2 million, marking a 14% increase quarter-over-quarter.
